Last Updated on by Sumi
For the first time in Nepal, Nabil bank has introduced ‘Nabil Fone Loan’ in collaboration with F1 Soft International which is a digital loan service that provides small short term pre-approved loans of up to NPR 100,000 to Nabil Salary Account holders instantly, through the bank’s mobile banking platform. This new service is available on the existing mobile banking platform backed by a virtual credit card. The entire lending process happens through mobile banking, No bank visit, No paperwork, no hassle of the conventional credit application process.
“It is a matter of pride that for the first time in Nepal we are able to offer such facility through the NabilSmart Bank app,”
– Anil Keshari Shah,
CEO, Nabil Bank
Related: Scan & Withdraw service launches Nabil bank
How much loan amount can I take ?
The u003ca href=u0022https://nabilbank.com/en/u0022 target=u0022_blanku0022 aria-label=u0022Nabil (opens in a new tab)u0022 rel=u0022noreferrer noopeneru0022 class=u0022rank-math-linku0022u003eNabilu003c/au003e Fone Loan service has a decision analytics engine that calculates loan amount, the system learns deposit/withdrawal pattern, deposit amount along with other criteria to calculate the eligible loan amount. Then the eligible customers can instantly apply for virtual credit card loans using mobile banking for loan amounts up to up to NPR 100,000.
How to apply for the Nabil Fone Loan?
The loan is provided to the customer’s account through a ‘Virtual Credit Card’ within a few minutes of application. To avail of this facility, the customer must be a smart bank user and this type of loan will be available for a short period. According to the bank, no additional collateral is required as it is inherent in the customer’s banking business.
Who can apply for Nabil Fone Loan?
For first phase of implementation, this product will be targeted to customer’s payroll/salary account holders. In the future, we have plan to extend this service to other segments as well.
Why Nabil Fone Loan?
u003e u003cstrongu003eContact-less Digital Lending Experience:u003c/strongu003e The lending process happens through mobile banking, No paperwork, No bank visit, no hassle of the conventional credit application process.u003cbru003eu003cbru003eu003eu003cstrongu003eInstant Loan:u003c/strongu003e All processes of a loan application and approval is done instantly in real-time, within a few minutes.u003cbru003eu003cbru003eu003eu003cstrongu003eCollateral Free Loan:u003c/strongu003e The lending process is based on an analytical study of customer’s banking transactions, no collateral required.u003cbru003eu003cbru003eu003eu003cstrongu003eMicro Loans:u003c/strongu003e Customers can apply even for small loan amounts up to NPR 1 lakh.